Media buying is one of the most time-consuming aspects of marketing that our clients often encounter. Getting phone calls throughout the day for various services often bogs down your time particularly when you cannot differentiate the services offered. Although media buying can be frustrating and time-consuming, it's often a necessary part when marketing your business. Here are a few helpful tips that we've gathered over the years when providing this service for our clients that may alleviate the headache and save you some time.
KNOW YOUR AUDIENCE
One of the first things that we would suggest doing is creating an ideal representation of your best customer(s) - what we refer to as "buyer personas". This advice goes for all businesses regardless if you're buying media or simply using referral sources for lead generation. Why? Because in order for you to decide which medium of marketing is most appropriately tailored for your target audience, you must first define how your goods or services Will meet the needs of your customers. This process often entails defining your customer demographics and geographics, as well as, understanding their pain points and what their daily life looks like and how they choose to communicate. If your target audience never picks up a newspaper because they gather all of their information online then you probably don't need to waste your time speaking to reps that sell newspaper ads.
CREATING A BUDGET AND UNDERSTANDING ROI
Creating a marketing budget, just like identifying your best customer(s), is something that should be created and re-created on a regular basis. However all this being said, we are often not surprised to find that many businesses have never created a marketing budget. At the very least, a business should create some kind of metric to determine the average revenue generated per customer then use this average to determine effective marketing return on investment (ROI). After defining your best customer, having this information is essential to determining the right fit for your various marketing channels.
BUILDING RELATIONSHIPS WITH YOUR REPS
Another great way to save a lot of time deciding on marketing is to build trustworthy relationshipswith your reps. Although this may seem like more effort initially, there are significant benefits to having an open and honest relationship with your marketing reps. For instance, if you have used a publication for print advertisements that now offers digital services you can then leverage your relationship to package your marketing, saving both time and money in the long run, while benefiting from cross channel marketing.
HIRE SOMEONE TO DO THIS FOR YOU
Although we spend little time in our blogs schilling our business, the truth of the matter is that unless your business has an internal marketing staff dedicated to doing all of the above, media buying will always be a process that takes away from your core competency and revenue generation. Finding an agency that understands the points listed and has built reputable relationships in the marketing community is often a far more cost-effective solution that will allow you to focus on what you do best.
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